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URA DESIGNATES DEVELOPER FOR TALKS ON WASHINGTON'S LANDING HOUSING DEVELOPMENT

 PITTSBURGH, Dec. 9 /PRNewswire/ -- The Urban Redevelopment Authority (URA) of Pittsburgh today took the first steps toward development of a waterfront housing complex on Washington's Landing, the Allegheny River Island which is rapidly becoming one of the city's most attractive development sites.
 At its December meeting, the authority's board of directors approved entering into exclusive negotiations with a joint venture comprised of the Rubinoff Company and Montgomery & Rust, Inc., for the development of housing on Washington's Landing. The period of exclusive negotiations will be 120 days, with the next step a specific development proposal from the joint venture.
 "This period of negotiations would help us focus on specific ideas for residential development on Washington's Landing," said Mulugetta Birru, URA executive director. "We consider the island a promising site for residential development, and it is clear that the development community agrees."
 Both partners in the joint venture offer considerable experience in Pittsburgh development. The Rubinoff Company has played an important role in the growth of Washington's Landing to date, while Montgomery & Rust spearheaded the development of such residential complexes as Perry Point and the Village of Shadyside.
 Washington's Landing was an abandoned industrial site about two miles from downtown Pittsburgh when URA and its partners launched concerted redevelopment efforts in the 1980s. Today, the island boasts two office buildings occupied by the Pennsylvania Department of Environmental Resources, a third office building in the planning stages and a 102-slip marina. It also serves as home for Gamma Sports, a manufacturer of tennis equipment, and the Three Rivers Rowing Association, and it offers public trails and recreation areas.
 The Commonwealth of Pennsylvania has played a key role in the development of the island through financing from the departments of Commerce and Community Affairs.
 "Washington's Landing has emerged as a comprehensive center for commerce, manufacturing and recreation," Birru said. "An attractive waterfront housing complex could be the final jewel in the crown."
 In other actions, the board:
 -- Authorized purchase of the site of the former Stanton Heights Shopping Center, a community eyesore that has been largely vacant since the mid 1970s. The authority will continue to work with the Garfield Jubilee Association on redevelopment of the property for commercial and community purposes. Acquisition price for the approximately 5.5-acre site will be $286,000.
 -- Agreed to purchase from USX Corporation an approximately 2.6-acre property on the South Side and to work with South Side Local Development Company (SSLDC) on development of riverfront housing for the site.
 -0- 12/9/93
 /CONTACT: Norma Madden of URA, 412-255-6639/


CO: Urban Redevelopment Authority of Pittsburgh; Rubinoff Company;
 Montgomery & Rust, Inc. ST: Pennsylvania IN: SU:


CD-KC -- PG009 -- 2289 12/09/93 15:11 EST
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Publication:PR Newswire
Date:Dec 9, 1993
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